Mortgage servicers completed less proprietary loan modifications in August than they did in July but still remained at elevated levels according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 59,459 homeowners received permanent, proprietary loan modifications in August, down 9.9 percent from the 66,002 loan modifications in July.

Of the proprietary loan modifications completed in August, eighty-two percent (48,524) included reduced monthly principal and interest payments, with 71 percent (42,388) receiving a reduction of more than 10 percent. In addition, ninety-three percent (55,531) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications through the federal government’s Home Affordable Modification Program (HAMP) remained at about the same levels seen for the previous two quarters.

Short sales climbed higher than the previous month as a total of 39,559 short sales were completed in August compared to a revised 36,230 in July.

Mortgage servicers completed less proprietary loan modifications in August than they did in July but still remained at elevated levels according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 59,459 homeowners received permanent, proprietary loan modifications in August, down 9.9 percent from the 66,002 loan modifications in July.

Of the proprietary loan modifications completed in August, eighty-two percent (48,524) included reduced monthly principal and interest payments, with 71 percent (42,388) receiving a reduction of more than 10 percent. In addition, ninety-three percent (55,531) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications through the federal government’s Home Affordable Modification Program (HAMP) remained at about the same levels seen for the previous two quarters.

Short sales climbed higher than the previous month as a total of 39,559 short sales were completed in August compared to a revised 36,230 in July.

Mortgage servicers completed less proprietary loan modifications in August than they did in July but still remained at elevated levels according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 59,459 homeowners received permanent, proprietary loan modifications in August, down 9.9 percent from the 66,002 loan modifications in July.

Of the proprietary loan modifications completed in August, eighty-two percent (48,524) included reduced monthly principal and interest payments, with 71 percent (42,388) receiving a reduction of more than 10 percent. In addition, ninety-three percent (55,531) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications through the federal government’s Home Affordable Modification Program (HAMP) remained at about the same levels seen for the previous two quarters.

Short sales climbed higher than the previous month as a total of 39,559 short sales were completed in August compared to a revised 36,230 in July.